November ended on a high note, at least from an automotive perspective, with sales of new vehicles delivering solid year-over-year gains for those brands that have so far reported their numbers for the month. And several Japanese and Korean brands ended November with new sales records.
Lower interest rates helped boost demand in November.
U.S. car sales are looking to reach their highest level since the start of the COVID pandemic, according to data gathered by consulting firm PWC, and November’s numbers suggest that forecast is right on target.
Sales of new vehicles appeared to come in stronger than expected, at least based on early reports from the month – initially delayed due to the four-day Thanksgiving holiday. Several automakers including Subaru, Kia and Hyundai said they set new records for the month.
The reporting of monthly sales figures is limited as only some companies with a presence in the U.S. market release monthly sales figures. Others, including General Motors, Ford and Stellantis, release their numbers on a quarterly basis. The numbers released by the automakers indicate sales remained stable in November as consumers reacted to signs interest rates could fall.
Monthly sales record for Subaru
Subaru surfed through November with products such as the Solterra.
Subaru of America reported 57,690 vehicle sales for November 2024, an increase of 8.2 percent compared with November 2023. The figure represented a November sales record for Subaru.
Troy Poston, Senior Vice President of Sales, Subaru of America, said, “We’re proud to celebrate our best November ever. Our vehicle lineup, including Crosstrek and Forester, comfortably fits the needs of more and more drivers. We look forward to closing out the year successfully and to welcoming in a great New Year with our Subaru family,” he said.
SOA also reported year-to-date sales of 605,854, a 5.5 percent increase compared with the same period in 2023.
New records for Korean brands.
The Genesis G80 helped push the brand to a new record.
Genesis Motor America s reported 8,003 total sales in November 2024, an all-time monthly record achievement for the brand, representing a 34% increase from the prior year. November also represented an all-time best monthly sales achievement for GV70 with 3,086 vehicles sold.
Hyundai also reported record-breaking total November sales of 76,008 units, an 8% increase compared with November 2023.
Retail sales for November 2024 set new records climbing 15%. EV retail sales increased 77% year-over-year, hybrid retail sales grew by 104% and electrified (EV, hybrid, plug-in hybrid) retail sales jumped 92%.
“Hyundai delivered an exceptional sales month, driven by the strong performance of our EV and hybrid vehicles,” said Randy Parker, CEO of Hyundai Motor America. “Customers continue to be attracted to Hyundai’s diverse vehicle lineup which can meet a variety of customer needs. We also saw significant interest and excitement for the worldwide debut of the U.S.-built IONIQ 9 and we can’t wait to bring it to market next year,” Parker added.
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Electrified models lift Kia
The EV6 is one of the reasons the brand hit a November record.
Kia America achieved its best-ever November sales, with 70,107 units sold—marking a 20% increase over November 2023 and surpassing 70,000 sales in a single November for the first time. This achievement was also highlighted by record-breaking monthly sales for the Telluride SUV.
Kia’s SUV models and electrified vehicles experienced significant growth, with increases of 38% and 45% respectively compared to the same period last year,
Kia has achieved a remarkable milestone by recording a 20-percent year-over-year increase in retail sales, excluding fleet sales, for the second consecutive month, setting a new record for November sales. Sales of SUVs and electrified models accounted for 75-percent and 16-percent of Kia’s overall November total.
Honda and Acura sales “powered” up
The Acura Integra couldn’t gain much traction in November.
While American Honda didn’t quite reach record levels, it posted solid gains for the Honda and Acura brands during November, demand “powered by light trucks and electrified vehicles, the automaker said in a statement.
Collectively, the two marques delivered a 14.5% increase in year-over-year sal
es, delivering 121,419 cars, light trucks and crossovers. The Honda brand gained 15.9% in November, its upscale sibling Acura gaining a more modest 2.6% in November.
Both brands suffered declines in the passenger car segment – Acura’s line down 29.2% for the month. But each scored double-digit increases in the truck segment. And electrified models, including the Honda Prologue and Acura ZDX EVs, had some of their best results ever.
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